live to washington for the details on that next. >>> president obama saying the u.s. can reduce its budget deficit. john harwood has more. >> the big question in washington is what is the next budget deal to reduce the deficit going to be? what is going to be in it? will it be spending cuts or revenue? the president said in the super bowl interview with scott pelley yesterday that it has to include revenue and singled out one in particular, that is the carried interest loophole. >> i don't think the issue right now is raising rates. there is no doubt we need additional revenue coupled with smart spending reductions, in order to bring down our deficit. and we can do it in a gradual way so it doesn't have a huge impact. the average person doesn't have access to carried interest income where they end up paying a much lower rate on billions of dollars that they have earned. >> now, going into the president's favor as he tries to go after this is a widespread belief on wall street, even that this is an unjustified loophole, one of the top figures on wall street told me the